A Strong Chinese Middle Class Could Ease US-China Relations

A thriving middle-class of consumers in China could lead the way to easing trade relations between China and the U.S., Ron Kirk, U.S. Trade Representative, told CNBC today.

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US Trade Representative Ron Kirk

Trade relations are tense between the two countries: As an example, U.S. senators are proposing legislation that would tack tariffs onto Chinese imports.

“It is in China’s long-term interest to allow their currency to flow to a more market standard,” said Kirk. “But we see extraordinary potential for U.S. manufacturers, innovators, farmers, ranchers and workers, if we can construct an environment in which China develops a more broad-based economy, in which they develop a middle-class of consumers.”

Sounding a general note, he added: "The United States can't continue to be just the world's consumers. We have to save more and, frankly, we need to make more."